UK Net Zero Emissions Target - Statement

Part of the debate – in the House of Lords at 4:08 pm on 12th June 2019.

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Photo of Lord Henley Lord Henley Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy) 4:08 pm, 12th June 2019

My Lords, the Committee on Climate Change, as I made clear, has given us its vision of the likely cost of delivering a net zero target; that is within the same range as the original 80% target set out in 2008. It is equivalent to 1% to 2% of GDP by 2050, and our own assessment of costs is broadly within that range. One has to add that the impact of this could be partly offset by the many benefits, such as economic growth, green-collar jobs, reduced air pollution and reducing the risks and potential costs of catastrophic climate change. We will continue with that and, as was made clear in the Statement, the Treasury will also make its own further assessments of the costs. It is quite right that we should take those into account. As I said in response to the noble Lord, Lord Cunningham, it is very important that as we pursue this policy, which we believe is entirely necessary and agreed on most sides of the House, we take everybody else with us.